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October 10, 2015

How do I get a job in the fraud division of a corporation working at a call center?

How do I get a job in the fraud division of a corporation working at a call center?

Payment fraud is fought at issuing (and acquiring) banks, payment processing intermediaries (e.g., Stripe and PayPal), and, of course, e-commerce and marketplace sites. These sites are actually where you see most jobs combining call centers with cybersec investigations. The positions include fraud reviewers, fraud review analysts, and risk operation analysts.

I discuss in detail where jobs that combine cybersec and call centers are, how these positions are named, and the type of training and skills required to carry out these jobs.

  1. Where could you find this type of job?
  2. What type of position, training, and skills are required?

1. Where could you find this type of job?

Issuing banks would be a possible source for these jobs because, they bear responsibility for chargebacks. However, issuers are probably not the best place to find jobs conducting cybersec investigations by phone for two main reasons.

First, issuers already have a series of risk-limiting measures in place before payments (e.g., using contracts that limit the type of payments accepted), during payments (e.g., detecting payments that are at risk using filters), and after payments (e.g., subtyping fraud cases so liabilities are properly transferred when applicable).

Second, issuers have little information about what the payments are for. In fact, the “virtual persona” (e.g., the phone numbers, addresses, and products ordered) using the card is pretty much unknown by the issuers, which hampers their ability to carry out large-scale, systematic investigations via a call center.

Instead, issuers are more likely to rely on call centers to reach out to real clients whose cards are suspected of fraudulent charges. If a call to a client confirms the fraud, an administrative process is initiated that escalates the fraudulent charge to the card network, protects the cardholder, and blacklists the card so no further charges are authorized. In turn, this means that cybersec investigations from the call center are most likely limited.

On the other hand, marketplaces (e.g., eBay, Amazon, and Etsy) and e-commerce sites (e.g., online travel agents) have much more data about a “virtual persona” making an online purchase. They are quite active in monitoring payment fraud, running cybersec investigations, and, eventually, calling clients to verify purchases. This is closer to what you are interested in, i.e., calling and cybersec.

What type of position, training, and skills are required?

In these companies, the positions you should look for are fraud reviewers, fraud review analysts, or, more generally, risk operation analysts. You might start as a junior analyst, progress to a senior analyst, and then become the manager of a fraud team.

Training is frequently provided on the job, but understanding how computer networks (e.g., the Internet) function and how card payments are processed is a definite benefit. In addition, speaking multiple languages is often a prerequisite. This is especially true for businesses with clients who speak many different languages, such as in Europe. Finally, basic literacy in statistics has become more important because fraud prevention solutions are increasingly delivering quantitative metrics to help make data-driven decisions.

References

[1] How do I get a job in the fraud division of a corporation working at a call center? Quora.
[2] Photo by Eric Garcetti (L.A. Opportunity Youth Job Fair) CC BY 2.0